Use the standard price and cost data provided in Exercise 8-1B. Assume the actual sales price was $29.50 per unit and the actual variable cost was $13.60 per unit. The actual fixed manufacturing cost was $67,000, and the actual selling and administrative expenses were $47,000.

Required
a. Determine the flexible budget variances.
b. Classify the variances as favorable or unfavorable.
c. Provide another name for the fixed cost flexible budget variances.
d. Comment on the usefulness of the variances with respect to performance evaluation and identify the member(s) of the management team that is (are) most likely to be responsible for these variances.